You may contribute to helping speed a cure for Parkinson's disease through a gift in your will or other estate plans. Such gifts are easy to establish and may reduce the estate taxes that may be levied against your property. This charitable deduction can greatly reduce the cost of making a bequest. Although legal consultation is always advisable before designing any type of will provision, you should know that a bequest may be simply stated as follows:
"I give and bequeath to the trustees of The Michael J. Fox Foundation for Parkinson's Research _________% of my total estate (or $___________)."
If the trustees of the Foundation determine at any time that a bequest cannot be used as it was originally intended, they will apply the proceeds to a purpose that most closely resembles the donor's intention. Providing such a provision in your will creates an unrestricted bequest, which assures that your gift, will be used where it is most needed.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.